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Newmarket, Monday, October 25, 2004 (Revised February 2006) - Frank Stronach, Chairman of Magna International, and Dan Carriere, President and CEO of Southlake Regional Health Centre, today announced an $8 million donation from Magna toward the construction of a cancer centre in Newmarket, which will be named The Stronach Regional Cancer Centre - Magna Building. This represents the largest corporate donation to a hospital outside of an urban area in Canadian history.

The Stronach Regional Cancer Centre - Magna Building will serve one million people who reside in York Region and south Simcoe County. The new centre will be built as a separate structure on the southwest portion of the Hospital’s property.

“At Magna, we believe we have an obligation to support the basic fabric of society by donating a portion of our annual profits to charitable, education and health causes,” said Mr. Stronach. “We are fortunate to be able to give back to the community where so many of our employees live and work, and we are proud to support one of this province’s great hospitals.”

Mr. Stronach pointed out that more than 12,000 Magna employees live and work in the Southlake catchment area. “This is very much a re-investment in the health and well- being of the women and men who have made Magna a successful company. They and other local residents will benefit from a cancer centre here in the heart of their community,” he said.

“York Region and South Simcoe are in strong need of a comprehensive, fully equipped, local cancer centre here at Southlake. Today’s historic contribution is a giant step towards making that cancer centre a reality,” said Mr. Carriere. “We live in one of the fastest growing regions in Canada. The cancer centre, situated at Southlake, will enable residents to access life-saving diagnostics and therapeutics closer to home and will assist the government in decreasing wait times for such urgently required services. Thanks to Mr. Stronach and Magna, we’re much, much closer to achieving the local funding required to accommodate large infrastructure developments such as the cancer centre.”

Southlake was designated a Regional Cancer Centre in August 2003 by the Ministry of Health and Long-Term Care. A planning grant of $6 million was identified to assist with costs incurred in the planning and design of a regional cancer centre on March 30, 2004.

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